Saudi Arabia’s Needs Have Become Iran’s Problems

While Israel has been the barking dog pushing hostilities against Iran, it is the Saudis that are truly most threatened by Iran’s return to the global economy. They are as much, if not a bigger, agitator for tearing up the Iran Nuclear Deal as Israel has been. A report earlier this week from the International Monetary Fund argued that Saudi Arabia still needs oil trading at $88 per barrel to balance its budget and pull off the structural reforms the country needs. Crown Prince Mohammed bin Salman’s Vision 2030 plan, which has the usual suspects in Washington salivating at the prospect of leaching off of, will require a complete make-over of Saudi society. It will likely cost trillions. And the Saudis still have a big budget deficit. It is set to shrink to a more manageable 7 percent of GDP this year while expanding government spending by more than […]